Marston's drinks to Christmas
Wolverhampton pubco Marston's traded well over Christmas and New Year, with profitability in line with expectations.
In its managed pubs, like-for-like sales for the 16 weeks to 21 January were 5 per cent ahead of last year, including a 5.5 per cent rise in food sales and a growth of 4.8 per cent in drink sales.
Like-for-like sales in the eight weeks to 21 January were up 7 per cent compared with 12 months earlier when the severe weather affected trade.
Marston's plan to build about 25 pub/restaurants in the current financial year remains on track, it told the Stock Exchange ahead of its annual general meeting later today (27 January 2012).
"We are expecting the challenging consumer environment experienced in 2011 to remain in 2012. However, our focus on value, service and quality; the performance of our new-build pub-restaurants; the success of franchise agreements; and the benefits of enhanced commercial support to our tenanted and free trade customers have all contributed to the positive performance to date," the group added.
"We remain well positioned to make progress on our key objectives of sustainable growth, improved return on capital and reduced leverage."
In Marston's leased, tenanted and franchised pubs, profits for the 16-week period are estimated to be about 3 per cent above last year, with 4 per cent growth in the eight weeks to 21 January.
